By way of recounting a spirited exchange between Bill Lerach and the recently deceased Alistair Ross Goobey, a sort of a shareholder activist in his own right. The two men were co-founders of the Hermes-Lens Focus investment fund.

Whereas Lerach championed litigation as the most expedient tool for shareholder redress, Ross Goobey spent a career attempting to refine corporate governance in the service of shareholders. Call him the "scalpel" to Lerach's big swinging axe.

A great, interesting piece offering a perspective that you're not going to see in any of other coverage of Lerach this week. Also worth a mention is reference to the book Corpocracy by Robert Monks. Could be interesting...

-- MDT